Payday Loans in Taylor, Texas
Incidents happen, and we usually end up in a situation where we must cover some surprise expenses. Think about applying for a payday advance loan in Taylor, Texas, to see if you qualify.
The application process is quick and straightforward. To be eligible, you have to meet a few basic requirements.
What is a Payday Advance Loan? What Can It Pay For?
A payday loan is where the borrower will receive a petite sum of money on a short-term contract. This is thought of as an unsecured loan because no collateral is needed.
When unforeseen financial needs present themselves, for example late rent or utility fees, auto costs, medical or vet payments, and so on, people usually turn to payday loans.
Paycheck Advance Loan Requirements In Taylor, Texas
In Taylor, Texas, cash advance loan borrowers must meet several stipulations to be eligible for a loan.
The borrower must:
- Show proof that they reside in Taylor, TX
- Must be at least 18
- Receive a steady income that they can prove that's at least $1,000 per month
- Provide active contact information like phone number and email address
- Give their social security number
If a borrower does not meet the above criteria, they will automatically be denied a paycheck advance loan. Ensure that you have the documents required when requesting a loan.
Laws and Regulations Regarding Cash Advance Loans in Taylor, Texas
The State of Texas has deemed cash advance lending legal. However, they have put forth the below rules and laws for the payday lending industry:
- An individual money lender can't offer a loan for more than $600. Borrowers cannot have more than two active loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In the State of Texas, borrowers are not allowed to rollover their loans.
- The fees and charges change for each loan lender. The service fees enacted by lenders on a cash advance loan do not fall under interest. The service fees apply to each $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Cash Advance Lenders in Taylor, Texas, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will run a credit check on you, still, even if you possess no credit or bad credit, you may still be eligible for a loan as long as you can show that you are able to repay the loan. Lenders are generally unconcerned about your credit if you have proof of income and a plan to repay the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is solely to get a look at your credit history and basic information.
A hard credit inquiry, alternatively, must have your permission. These credit pulls are done for a variety of purposes, including mortgages, credit cards, and more.
You may still qualify for a cash advance loan with poor credit in Taylor, Texas, provided that you have proof of repayment.
So, when you apply for a loan, albeit in person or online, make sure that you have your income information ready and any other documents verifying that you can repay the loan. The more proof you provide, the more likely your loan application will be approved.
When Will I See My Deposit in Taylor, Texas?
When you see your deposit actually depends on your lender as some lenders provide same-day cash advance loans, which means you will receive your paycheck advance loan on the same day you submit your application, as long as you get an approval.
Most of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Because of this, if you submit your application on a Friday, you might not get your deposit until Monday.
If you're wanting a same-day paycheck advance loan in Taylor, TX, you will need to make sure you're applying by 10:30 am. All same-day payments going out that day will be approved by that time. However, you should apply earlier than that if able, as it will boost the likelihood that you get your money on the day that you apply.
One other factor that you should know is even if the money lender grants your loan request and posts the funds to your bank, occasionally the bank won't release that credit right away. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they might make an exception in releasing the deposit earlier.
On the whole, it's wise to prepare in advance to receive cash on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Consider Working With Us
If you possess less than great credit or no credit and are searching to secure a payday loan, think about applying through us, as you probably have a better chance of approval.
We partner with hundreds of different lenders who offer their services online. Frequently you will see your deposit on the next business day so make sure that you plan correctly.
Although, you can always find the nearest paycheck advance loan storefront to you and apply in person to boost the chances of seeing your cash on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may require proof of address, so bring a utility bill to the store as well.
To locate the nearest payday loan store, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Taylor, TX
Below you will find a list of payday loan companies offering their services in Taylor, Texas. If you can't find a lender near your location in Taylor, consider applying in a nearby city in Texas. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Taylor, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.